History
Prior to 1974, there was no Congressional Budget Office nor budget resolution process. When President Richard Nixon began to refuse to spend funds that the Congress had allocated, Congress needed a more formal means by which to challenge him. The resulting Congressional Budget and Impoundment Control Act of 1974 created the Congressional Budget Office and directed more control of the budget to CBO and away from the President's Office of Management and the Budget. The Act passed easily as the administration was then embroiled in the Watergate scandal and unwilling to provoke Congress.
Read more about this topic: Budget Resolution
Famous quotes containing the word history:
“The history of the genesis or the old mythology repeats itself in the experience of every child. He too is a demon or god thrown into a particular chaos, where he strives ever to lead things from disorder into order.”
—Ralph Waldo Emerson (1803–1882)
“There is a history in all men’s lives,
Figuring the natures of the times deceased,
The which observed, a man may prophesy,
With a near aim, of the main chance of things
As yet not come to life.”
—William Shakespeare (1564–1616)
“To history therefore I must refer for answer, in which it would be an unhappy passage indeed, which should shew by what fatal indulgence of subordinate views and passions, a contest for an atom had defeated well founded prospects of giving liberty to half the globe.”
—Thomas Jefferson (1743–1826)